State Representative Parke Wentling | Pennsylvania 7th Legislative District
State Representative Parke Wentling | Pennsylvania 7th Legislative District
HARRISBURG - The town of Greenville in Pennsylvania is set to receive a low-interest loan of $797,674 from the Pennsylvania Infrastructure Investment Authority (PENNVEST). The loan will be used to fund a project aimed at upgrading the town's storm sewer system.
The loan, approved by PENNVEST, comes with a locked interest rate of 1% for the first five years. After that, the rate will increase to just under 1.75% for the remaining 15 years. The funding will be used to replace corroded metal pipes with new high-density polyethylene pipe along North Third Street. Additionally, two small retention ponds will be constructed near 44 N. Third St. to control the velocity of stormwater discharging into the receiving waterway. The project will also include the installation of three new inlets, four manholes, and associated restoration work.
"This PENNVEST loan gets the town the funding it needs to complete the project, while keeping the interest rate much more manageable," said Rep. Parke Wentling (R-Mercer), who made the announcement.
The funding for the PENNVEST loan comes from a combination of state funds approved by voters, federal grants from the U.S. Environmental Protection Agency, and recycled loan repayments from previous PENNVEST funding awards. The funds will be disbursed after bills for the work are paid and receipts are submitted to PENNVEST.
The project is expected to significantly improve Greenville's storm sewer system and enhance its ability to manage stormwater. This upgrade will benefit the town and its residents by reducing flooding risks and protecting the environment.
The approval of this loan demonstrates the commitment of the state and federal government to invest in the infrastructure of Pennsylvania's towns and cities. By providing funding for essential projects like the storm sewer system upgrade in Greenville, the government aims to improve the overall quality of life for its residents.
For more information, please contact Jake Gillespie at 717-772-9834 or via email at JGillespie@pahousegop.com. Additional updates and news can also be found on Representative Parke Wentling's website at RepWentling.com.
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